Brandes Investment Partners LP grew its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,411 shares of the information services provider’s stock after buying an additional 20,480 shares during the quarter. Brandes Investment Partners LP’s holdings in Alphabet were worth $48,530,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the fourth quarter worth $38,000. Meritage Group LP increased its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC raised its stake in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. IAG Wealth Partners LLC raised its stake in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Alphabet in the 4th quarter valued at about $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of GOOGL stock opened at $174.99 on Monday. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The business has a 50 day simple moving average of $160.81 and a 200 day simple moving average of $146.91.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.
Insiders Place Their Bets
In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 over the last ninety days. Company insiders own 11.55% of the company’s stock.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of analyst reports. Argus boosted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein raised their price objective on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Rosenblatt Securities lifted their price target on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Raymond James raised their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.57.
Check Out Our Latest Report on Alphabet
Alphabet Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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